Priya Patel is an overseas student studying at a British University. Priya has the following financial details:

Required: Priya’s:

(a) Profit and loss account (income and expenditure account)

(b) Balance sheet (assets and liabilities)

(c) Cash flow statement

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Tuition fees paid 6,840 Food paid 550 Hall of residence fees paid 2,000 General expenses paid 180 Money spent on books 160 Parental loan of 2,000 during year Money spent on 500 entertainment Money earned at arts and crafts bazaar Phone calls paid State of affairs at the start of the year: Cash at bank 1,800 100 Music system* 8,600 200 * Still worth 200 at end of year.